S&P warns debt relief not enough to resolve Eskom crisis
The power utility is still not sustainable, says ratings agency, ratcheting up pressure for break-up
28 November 2023 - 05:00
S&P Global Ratings analysts have warned that the government’s debt relief package for Eskom is not enough to make it a financially sustainable company, stacking up pressure on the public enterprises department to speed up the break-up of the troubled state power utility.
The ratings agency lifted Eskom to a B rating last week, five notches below investment grade, meaning the utility can meet its financial obligations but is more exposed to economic and external shocks...
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